A higher population growth rate can potentially lead to a higher rate of growth in per capita real GDP if
A) it leads to an increase in the amount of dead capital.
B) young workers replace older workers.
C) there is a greater labor force participation rate.
D) it leads to greater democracy in a nation.
C
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In many rural areas, electric generation and distribution utilities were initially set up as cooperatives in which the electricity customers were member-owners. Like most cooperatives, the objective of these firms was to:
A) maximize profits for the member-owners. B) maximize total revenue that could be redistributed to the member-owners. C) operate at zero profit in order to provide low electricity prices for the member-owners. D) minimize the costs of production.
Price discounts to selected buyers with the intent of driving out smaller competitors is:
a. widespread in all industries. b. common in the retailing industry only. c. illegal under the Robinson-Patman Act. d. allowed if the four-firm concentration ratio is less than 50 percent. e. beneficial to consumers in the long run.
If actual output is greater than the full-employment level of output, we should expect wages to increase over time
a. True b. False
When there are external economies of scale in an industry
A) firm costs decrease as individual firms expand output. B) firm costs decrease as the industry expands in size. C) firms will generally increase their size. D) firms must be located in different regions.